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Markets opened lower as expected and then climbed back up into the green unchanged line. Wall Street is becoming sour at the noontime trading, weighed down by financial and technology shares, and has turned south for the time being (SPY -0.01%).

+23.30

$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Following a major market correction, the conditions for safe re-entry are when:
a) Daily $OEXA200R rises above 65%
Secondary Bullish Indicators:
a) RSI is POSITIVE (above 50)
b) Slow STO is POSITIVE (black line above red line)
c) MACD is POSITIVE (black line above red line)

(Reuters) - U.S. stocks were slightly lower on Tuesday, weighed down by financial and technology shares, and as investors braced for a potentially tense meeting between President Donald Trump his and Chinese counterpart Xi Jinping.

BEIJING/WASHINGTON (Reuters) - Although worried about the prospect of a trade war, American businesses operating in China nonetheless want President Donald Trump to wring some concessions on market access from China's leader Xi Jingping when the two meet this week.

(Reuters) - BMW of North America has suspended its advertising on Fox News' "The O'Reilly Factor" in response to a New York Times report that Fox and its star anchor Bill O'Reilly paid five women to settle claims that he sexually harassed them, a BMW spokesman confirmed to Reuters on Tuesday.

(Reuters) - Ralph Lauren Corp said on Tuesday it would cut jobs and shut its flagship Polo store on Fifth Avenue in New York City, among other office and store locations, as part of a cost-cutting plan.

CHICAGO (Reuters) - U.S. coal miner Peabody Energy Corp returned to the New York Stock Exchange on Tuesday after emerging from a year-long $8 billion Chapter 11 bankruptcy with far less debt and an industry champion in the White House.

(Reuters) - Staples Inc is in talks with private-equity firms about a potential sale, a source familiar with the matter said on Tuesday, sending shares of the largest U.S. office supplies retailer up more than 10 percent.

(Reuters) - Delta Air Lines Inc on Tuesday lowered its forecast for a closely watched revenue measure for the second time in less than a month, citing slower-than-expected improvement in average fares for flights booked at the last minute.

Just days after a post-Brexit UK cabinet put Europe on edge when a former Conservative leader said on Sunday that Theresa May "would go to war" to protect Gibraltar, Spain has tested the former EU member's resolve when on Tuesday afternoon the Gibraltar government tweeted that a Spanish gunship has made an illegal incursion into British waters off Gibraltar amid rising Brexit tensions over the territory.

According to SkyNews which broke the story, the Royal Navy told the ship to leave but the incident, the seventh of its kind this year, is likely to escalate already rising tensions over the sovereignty of the Rock.

Last Thursday, when AMZN stock - currently trading at some ridiculous four or more digit P/E multiple - made its latest spurt higher, we reported that as a result of the move, Jeff Bezos was now richer than Warren Buffett and fast approaching Bill Gates.

As a reminder, just last Wednesday Bezos added $1.5 billion to his net worth, the day after the e-commerce giant announced it will buy Dubai-based online retailer Souq.com, and has added over $7 billion since the global equities rally began following the election of Donald Trump. As of last week, Bezos had a net worth of $75.6 billion based on the Bloomberg Billionaires Index. That's $700 million more than Berkshire Hathaway Inc.'s Buffett and $1.3 billion above Ortega, the founder of Inditex SA and Europe's richest person.

That said, as of last Thursday, Bezos remained just over $10 billion behind Microsoft co-founder Bill Gates, the world's richest person with $86 billion.

But not for long, because fast forward less than a week later, when following a number of more sellside upgrades, Bezos is nearly there.

The latest catalyst: a "research" report from BMO's Daniel Salmon who upgraded the company to BMO's Top Pick, boosting his price target from $900 to $1,200. The alleged catalyst: Amazon is next set to challenge Google on its advertising business, to wit:

In this 46-page report, we examine a significant emerging opportunity for Amazon: advertising. We belie ...

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